CRWV is trading at $88.52, down 3.6%, following the filing of class action lawsuits alleging the company overstated infrastructure deployment capabilities and concealed significant data center construction delays.
- The lawsuits, filed by Bleichmar Fonti & Auld LLP and Pomerantz LLP, cite three major stock-price-triggering events, including the failed Core Scientific merger and November 10 guidance cuts.
- The guidance cuts, attributed to third-party delays, previously caused a 16% drop in share price, while the merger failure caused a 6% drop.
- These legal actions compound existing investor concerns about negative cash flow, execution risks, and GPU availability constraints.